Prop 42: Bans New Taxes on Financial Assets

Prop 42 is another ballot measure designed to compete with Prop 40, the billionaire wealth tax. If passed, California would ban new taxes on financial assets like retirement accounts, stock portfolios, or other personal property like art. If Prop 42 and Prop 40 pass, but 42 receives more votes, then Prop 40 would be nullified. Additional Resources: Read the transcript for this episode. Catch up on all of Prop Fest 2026 Your support makes KQED podcasts possible. You can show your love by going to https://kqed.org/donate/podcasts This story was reported by Marisa Lagos. Prop Fest is a collaboration between Bay Curious and The Bay. It’s made by Olivia Allen-Price, Katrina Schwartz, Christopher Beale, Anna Casalme, Ericka Cruz Guevarra, Alan Montecillo, Gabriela Glueck and Pauline Bartolone. Additional support from Jen Chien, Katie Sprenger, Maha Sanad, Ethan Toven-Lindsey and everyone on Team KQED. Learn more about your ad choices. Visit megaphone.fm/adchoices